GOYAL ASSOCIATES LTD Q1 RESULTS
![MPC should pay more heed to core inflation, says Ashima Goyal](https://img.etimg.com/thumb/msid-112795493,width-100,height-75,resizemode-4/news/economy/policy/mpc-should-pay-more-heed-to-core-inflation-says-ashima-goyal.jpg)
MPC should pay more heed to core inflation, says Ashima Goyal
Ashima Goyal, a member of the Monetary Policy Committee (MPC), emphasized the need to focus more on core inflation due to its significant impact on household inflation expectations. Goyal's term on the MPC will end in early October. Additionally, she suggested that the MPC should expand its role to include providing guidance on liquidity conditions in the banking system.
![Ola Electric stock surge; Piyush Goyal slams ecomm growth](https://img.etimg.com/thumb/msid-112685754,width-100,height-75,resizemode-4/tech/newsletters/tech-top-5/ola-electric-stock-zooms-ecommerce-growth-worries-piyush-goyal.jpg)
Ola Electric stock surge; Piyush Goyal slams ecomm growth
Ola Electric's share price has nearly doubled in two weeks since listing. More on this in today’s ETtech Top 5.
![Bandhan Bank, GRSC among 16 stocks to trade ex-dividend on Tuesday. Last date to buy today](https://img.etimg.com/thumb/msid-112448392,width-100,height-75,resizemode-4/markets/stocks/news/bandhan-bank-grsc-among-16-stocks-to-trade-ex-dividend-on-tuesday-last-date-to-buy-today.jpg)
Bandhan Bank, GRSC among 16 stocks to trade ex-dividend on Tuesday. Last date to buy today
Dividends are paid to shareholders who are listed in the company's records on the record date. Shareholders who buy the stock at least one day before the ex-date qualify for dividends, as the transaction settles the following day. However, those who purchase the stock on the ex-date are not eligible for dividends.
![Trent Q1 Results: Profit zooms 131% YoY to Rs 342 crore, revenue soars 57%](https://img.etimg.com/thumb/msid-112396720,width-100,height-75,resizemode-4/markets/stocks/earnings/trent-q1-results-profit-zooms-131-yoy-to-rs-342-crore-revenue-soars-57.jpg)
Trent Q1 Results: Profit zooms 131% YoY to Rs 342 crore, revenue soars 57%
Trent's net profit surged by 131% YoY to Rs 342 crore for Q1 ended June 2024, with revenue from operations rising 57% YoY to Rs 3,992 crore. The company expanded to 178 cities, with emerging categories now contributing over 20% to revenues. Trent shares increased 8.7% post-results announcement.
![HUL, Lux Industries shares gain despite market crash](https://img.etimg.com/thumb/msid-112282964,width-100,height-75,resizemode-4/markets/stocks/news/hul-lux-industries-shares-gain-despite-market-crash.jpg)
HUL, Lux Industries shares gain despite market crash
Glenmark Life Sciences, Hindustan Unilever, and Lux Industries saw their shares rise as Nifty and Sensex dropped over 3% on Monday. Glenmark soared 6.3%, Lux Industries increased 5.5%, and other stocks like Marico and Britannia posted gains. Market volatility persists amid global economic concerns and geopolitical tensions.
![Zomato to launch District app for dining out, events, ticketing biz](https://img.etimg.com/thumb/msid-112194265,width-100,height-75,resizemode-4/tech/technology/zomato-launches-district-app-for-dining-out-events-ticketing-biz.jpg)
Zomato to launch District app for dining out, events, ticketing biz
Zomato introduced a new app, District, for its going-out vertical, which includes dining, live events, and ticketing. This follows efforts to expand this business, including acquiring Paytm’s events division. The segment reported Rs 1,268 crore in the April-June quarter, a 106% rise from the previous year. Zomato aims to create 'super brands' instead of 'super apps'.
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Tata Consumer shares drop over 2% as Q1 results fail to impress. Should you invest?
Tata Consumer Products reported an 8% drop in profit after tax for the first quarter ended June 2024, falling to Rs 290 crore, below estimates. Shares fell 2.3%. Revenue from operations increased 16% year-on-year to Rs 4,352 crore. The drop in profit was attributed to higher exceptional items and lower returns from joint ventures and associates.
IT firms’ Q1 job data suggest they may end FY25 with higher headcount
The number of aggregate employees at Tata Consultancy Services, Infosys, Wipro, HCLTech and Tech Mahindra dropped by 2,034 sequentially in the first quarter ended June 30, according to the quarterly data they announced in July. Three of the companies — TCS, Wipro and Tech Mahindra — registered net additions in headcount.
TCPL Q1 Results: Net profit drops 14% YoY to Rs 289.25 cr, revenue up 16%
Tata Consumer Products Ltd (TCPL) on Tuesday reported a 14.34 per cent decline in consolidated net profit to Rs 289.25 crore in the first quarter ended in June 2024 on account of exceptional items and lower share of profits from its associates and joint ventures. The company had posted a consolidated net profit of Rs 337.71 crore in the April-June quarter a year ago, according to a regulatory filing from TCPL.
Tata Consumer Q1 Results: Cons PAT falls 8% YoY to Rs 290 crore; misses estimates
Revenue from operations in the reporting period rose 16% year-on-year to Rs 4,352 crore as against Rs 3,741 crore in the previous year period. The decline in profit was due to higher exceptional items and a reduced share of profits from associates and joint ventures. During the quarter, the India Beverages business saw a 6% increase in revenue (1% organic growth), despite being affected by an intense summer. In contrast, coffee maintained a strong performance, with a 28% revenue growth for the quarter.
India is most favoured nation for investment, with growth safety and stable currency: Piyush Goyal
Union Minister for Commerce and Industry Piyush Goyal encouraged the Indian business community to invest in India. He emphasised the country's history of never defaulting and its immense growth potential, with NRI deposits seeing a $3 billion inflow in just two months. Goyal highlighted the strong India-US relations, opportunities for collaboration in areas like semiconductors and responsible AI. He also spoke about the government's significant allocation of over Rs 10,300 crore for the IndiaAI Mission to boost the country's AI ecosystem and overall economic growth.
A Swiss company cheered up Kotak Mahindra Bank amid RBI's glare
Kotak Mahindra Bank's Q1 FY25 profit surged nearly 80% due to Zurich Insurance's acquisition of a 70% stake in Kotak General Insurance. The deal, completed in June 2024 for Rs 4,095.8 crore, added Rs 3,013 crore to the bank's consolidated profit. Kotak now holds a 30% stake in the insurance venture.
Paytm loss widens to Rs 840 crore, revenue falls; fintech plans to cut staff cost by Rs 500 crore
Paytm's Q1 financials were mainly impacted by RBI's action in March when it asked Paytm Payments Bank to halt banking services. The digital payments major, which saw its monthly transacting users fall to around 7.8 crore in June from 10.4 crore in January, said it is eyeing at least one profitable quarter this fiscal.
Construction equipment sector sees muted year after polls hurt Q1 sales
Construction equipment sales in India have stayed flat in the first quarter of FY25 due to a slowdown in road construction projects and subdued demand. Industry experts anticipate a tough year ahead, with concerns about declining volumes and delayed payments for infrastructure projects.
Persistent Systems Q1 net profit rises 33.9% on year to Rs 306 crore
Persistent Systems' revenue from operations rose 17.9% YoY to Rs 2,737.17 crore as compared to Rs 2,321,17 crore in the same quarter the previous year. Quarter-on-quarter its revenues increased 5.6% from previous quarter’s revenues of Rs 2,590.5 crore.
HCLTech Q1 result; Nasscom on Karnataka gig workers’ bill
India’s third IT major HCLTech’s Q1 profit is up 20% to Rs 4,257 crore. This and more on today’s ETtech Top 5.
TCS faces a muted Q1, trend in project ramping holds the key for Q2 show
The country's largest software exporter is likely to report 1.4% sequential increase in the revenue at $7,466.1 million, according to the average of estimates by ETIG and nine brokerages.
IFB Industries Q4 Results: Profit at Rs 12 crore
IFB Industries Ltd has reported a consolidated net profit of Rs 12 crore for the fourth quarter ended March 31, 2024, helped by performance from engineering business and home appliances. The company had posted a net loss of Rs 9.94 crore for the year-ago period, according to a regulatory filing on Tuesday.
Visa fee hike hits IT cos; Airport cab fares set to rise
Happy Friday! The hike in H-1B visa fee will hurt IT service companies severely, experts have warned. This and more in today’s ETtech Morning Dispatch.
Paytm shares drop 3% after Q4 results. Should You buy or sell?
Paytm's Q4 results show widened losses and reduced revenue, impacted by disruptions and regulatory actions. Analysts vary: Bernstein sees signs of recovery, Macquarie remains cautious, Motilal Oswal maintains a neutral stance, while JM Financial advises selling.
Tesla Europe sales lowest in 15 months
Tesla Inc had a slow start to the second quarter in Europe, with CEO Elon Musk expecting better results. The carmaker registered 13,951 vehicles in April, down 2.3% from last year, its lowest since January 2023.
Lok Sabha Elections 2024 Phase 5: From Rahul Gandhi to Smriti Irani and Piyush Goyal, here are top candidates and constituencies
India's Phase 5 Lok Sabha elections feature key contests with Rahul Gandhi, Smriti Irani and several Union Ministers and party chiefs in the race. Encompassing 49 seats spread across 6 states and two Union Territories (UT), the upcoming elections will see a diverse array of constituencies. Uttar Pradesh leads with 14 seats, followed by Maharashtra with 13, West Bengal with 7, Bihar with 5, Jharkhand with 3, Odisha with 5, and one each from Jammu and Kashmir and Ladakh.
Blinkit turns adjusted EBITDA positive in March as co aggressively bets on store expansion
The company highlighted that one of the key vectors for growth for the business will come through the store expansion. In the fourth quarter, it added 75 net new stores taking the total store count to 526.
Varun Beverages Q1 Results: PAT jumps 25% YoY to Rs 548 crore; revenue rises 11%
Varun Beverages Q1 Results: Co reported a consolidated net profit of Rs 548 crore, rising 5% year-on-year (YoY) for the quarter ended March 31, 2024; revenue from ops stood at Rs 4,398 crore
Jio Financial Q4 Results: Net profit rises 6% QoQ to Rs 311 crore
The net profit was Rs 294 crore in the preceding December quarter. For the full year ended March 2024, the financial services company's net profit grew multi-fold to Rs 1,604 crore as against just Rs 31 crore in FY23.
TCS reports dip in Q4 hiring, full-year attrition cools to 12.5%
For TCS, the headcount decreased by 1,759 since the last quarter, ending the fiscal year at a headcount of 601,546. In the third quarter, TCS had reported a sequential headcount dip of 5,680.
TCS Q4 show trumps D-Street expectations: 5 takeaways from the earnings
TCS Q4 Results: The company's order book for FY24 was at an all-time high of $42.7 billion and record $13.2 billion in the March quarter, led by the mega deal with Aviva and others in the emerging markets vertical.
TCS Q4 Results: Profit rises 9% YoY to Rs 12,434 crore, beats estimates
TCS Q4 Results: Revenue from operations increased by a marginal 3.5% year-on-year (YoY) to Rs 61,237 crore. On a sequential basis, profit after tax jumped 12%, compared with Rs 11,058 crore clocked in the preceding December quarter. Revenues were up 1% quarter-on-quarter (QoQ).
Q3 results this week: ITC, Adani Ports, Bajaj Finance, IndiGo, SBI, Tata Motors and others
ITC, Bajaj Finance, NTPC, Adani Green Energy, Bharat Electronics, Punjab National Bank, GAIL, Bharat Petroleum, Corporation, Vodafone Idea, Marico, Petronet LNG, Nippon Life India Asset Management, Tata Investment Corporation, Piramal Enterprises, R R Kabel, Aditya Birla Sun Life AMC, Maharashtra Seamless, Nuvoco Vistas Corporation, Godfrey Phillips India, among others will report their December quarter numbers on Jan 29
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